Pre Session: Markets may open flat amid mixed Asian cues
16/07/2018
The Indian benchmark indices are set to open flat on Monday amid mixed cues from other Asian peers.
The Asian markets have opened on a lower note as investor caution dominated ahead of the release of key Chinese economic data, which is expected to show signs of a slowdown, while Wall Street closed higher in the previous trading session as gains in industrials and other areas offset a drop in financials after results from three of the big banks mostly disappointed.
On the economy front, the markets may react to a report that the finance ministry may approach markets regulator Sebi to seek relaxation on the minimum 25 percent public shareholding norm for some public sector banks (PSBs).
Also, foreign investors have pulled out nearly Rs 1,200 crore from the debt markets in the first two weeks of the month on higher fuel prices and possibilities of rate hike by the US Federal Reserve. On the macro front, the government will announce wholesale price inflation (WPI) for June 2018 on July 16, 2018. WPI rose by 4.43 per cent year-on-year in May 2018, after a 3.18 per cent rise in the prior month.
On the IPO front, at least seven companies, including Lodha Developers and HDFC Mutual Fund, are expected to hit the capital market in the coming week to raise over Rs 14,000 crore. Also, market regulator Sebi has given its go-ahead for the initial public offering (IPO) of rail PSU IRCON, which could hit the markets in September to raise about Rs 500 crore.
Flat trends in the SGX Nifty Index Futures for July delivery, which were trading at 11,025.50, down by 3.50 point.
16/07/2018
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The Indian benchmark indices are set to open flat on Monday amid mixed cues from other Asian peers.
The Asian markets have opened on a lower note as investor caution dominated ahead of the release of key Chinese economic data, which is expected to show signs of a slowdown, while Wall Street closed higher in the previous trading session as gains in industrials and other areas offset a drop in financials after results from three of the big banks mostly disappointed.
On the economy front, the markets may react to a report that the finance ministry may approach markets regulator Sebi to seek relaxation on the minimum 25 percent public shareholding norm for some public sector banks (PSBs).
Also, foreign investors have pulled out nearly Rs 1,200 crore from the debt markets in the first two weeks of the month on higher fuel prices and possibilities of rate hike by the US Federal Reserve. On the macro front, the government will announce wholesale price inflation (WPI) for June 2018 on July 16, 2018. WPI rose by 4.43 per cent year-on-year in May 2018, after a 3.18 per cent rise in the prior month.
On the IPO front, at least seven companies, including Lodha Developers and HDFC Mutual Fund, are expected to hit the capital market in the coming week to raise over Rs 14,000 crore. Also, market regulator Sebi has given its go-ahead for the initial public offering (IPO) of rail PSU IRCON, which could hit the markets in September to raise about Rs 500 crore.
Flat trends in the SGX Nifty Index Futures for July delivery, which were trading at 11,025.50, down by 3.50 point.
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Free Commodity Tips : Join our Whatsapp No : 9094047040
